Global Financial Empire Briefs
The Emperor has no clothes, but few would know because major media will not spotlight it.
“The IMF’s unit of account, or “currency,” known as a Special Drawing Right (SDR), is being readied for eventual adoption as the replacement for the U.S. dollar in international transactions, to lead the way toward eventual adoption of the SDR or some other designated unit as the global currency, much in the same way that the euro was foisted upon the people of Europe as a replacement of their national currencies.
The mainstream media seem intent on keeping the public fixated on the latest Kardashian frolics, sportsmania, and Democrat-Republican political mudwrestling, while coverage of the G7, G20, and IMF confabs that are determining the economic fate of the world receive short shrift.”
Read full report: http://www.globalresearch.ca/are-the-g20-and-imf-in-the-process-of-creating-a-global-currency-and-federal-reserve/5324108?utm_source=rss&utm_medium=rss&utm_campaign=are-the-g20-and-imf-in-the-process-of-creating-a-global-currency-and-federal-reserve
THE IMF PRINTS THIS ON THEIR WEBSITE:
Group of Twenty IMF Note– Meetings of G-20 Finance Ministers and Central Bank Governors
IMF Note on Global Prospects and Policy Changes
February 15-16, 2013, Moscow
Despite an improving economy and better policies, significant downside risks remain. These relate to the potential for stalled policy implementation in the euro area, unsustainable public finances in the United States and Japan, and further growth disappointments in emerging economies. However, there are also upside risks from better financial conditions and confidence.
Policymakers cannot afford to let up their efforts. While near-term threats have been avoided, important medium-term challenges remain…
The euro area should proceed towards a genuine economic and monetary union.
In advanced economies, fiscal consolidation needs to continue
Policy responses for emerging economies vary. With short-term risks to activity abating, the general challenge is to rebuild fiscal space.”
Read full text at:
Sir Mervyn King, Governor of the Bank of England, is on the brink of striking a deal with the People’s Bank of China which would cement the UK’s role as the leading G7 trade hub for the world’s fastest growing currency.
The Bank of England expects to sign a final agreement to set up a three-year yuan-sterling swap line “shortly”, during a meeting between Sir Mervyn and his counterpart Zhou Xiaochuan in Beijing.
European and US officials have been pressing China for years to do more to open up the yuan to market forces, saying its artificial weakness was one of the key imbalances of the global economy.
Peter Schiff: “We are headed for a monetary crisis, a dollar crisis
Money manager Peter Schiff predicts, “We are headed for a monetary crisis, a dollar crisis. . . . Money supplies are going to explode, and gold supplies are going to be constricted.”